While the big corporations tend to make headlines when their data are breached, it’s the small and medium-sized companies that are most frequently chosen as victims by savvy cybercriminals. In fact, today’s small business landscape is plagued by cyberattacks, with 61% of small or medium-sized businesses (SMBs) experiencing an attack last year. Putting that into perspective — a full 43% of data breaches were directed at the SMB community — almost half of all cyberattacks and the primary target for cybercriminals.
Cyberattacks are increasing at an alarming rate, with a global spike of 105% in ransomware attacks alone in 2021 across all industries, with the health care industry experiencing a 755% increase in overall activity by cybercriminals. Data breaches are becoming increasingly common, with large enterprises such as Solar Winds and others making headline news. As a small business, you may be tempted to breathe a sigh of relief, thinking that you are too insignificant to warrant attention from hackers.
Many small business accounting departments still use manual data entry to input orders and inventory into spreadsheet programs or accounting software. But relying upon this technique is a detriment to financial health on several levels. In fact, lost data or incorrect data can cost businesses hundreds, thousands, or even millions of dollars in the long run.
There is a lot of emphasis on digital transformation among today’s small- and medium-sized businesses (SMBs) that are looking for a competitive edge.
That’s because affordable transformative technologies like multi-function devices (MFPs) can contribute to better workplace efficiencies, more streamlined workflows, and enhanced connectivity.